GBPUSD broke below the ascending triangle support on its 4-hour chart, signaling that price is in for more declines. The chart pattern is around 300 pips in height so the resulting selloff could last by the same amount.
The EURUSD pair rose slightly during the course of the session on Wednesday, but quite frankly we are simply consolidating at the moment.
The AUDUSD pair went back and forth during the course of the day on Wednesday, essentially settling nothing.
The GBPUSD pair went back and forth during the course of the day on Tuesday, essentially settling nothing.
The EURUSD pair initially tried to rally during the course of the session on Tuesday, but found the 1.10 level to be a bit too resistive.
The EURUSD pair fell slightly during the course of the session on Monday, as we simply meandered below the 1.10 level.
During the session today, we will be hearing from the Reserve Bank of Australia.
The EURUSD pair initially fell during the day on Tuesday, but found the 1.10 level to be supportive enough to turn the market back around.
The AUDUSD pair broke higher during the course of the day on Tuesday, but still has plenty of noise just above, not to mention the fact that we have a ceiling at the 0.75 level at the moment.
The EURUSD pair rose during the course of the day on Monday, breaking well above the 1.10 handle, and testing the 1.11 level.
